3213 茂訊

EPS 年複合成長率: 14.03% (110-106)
營業利益年複合成長率: -1.81% (110-106)
本益比: 4.37
本益成長比: -2.414
總報酬本益比: 1.126
近四季EPS總合: 11.19 (0.48,2.02,7.65,0.72)
融資餘額佔股本比例：0.29%
融資使用率: 1.16%
近期收盤價: 48.85 (2022-05-16)
技術線型
股利政策 (現金股利有部份來自資本公積要注意，但是如果是只有很少比例是來自資本公積而且是有計劃性是可以的，因為這樣可以降低股東權益，提升ROE)

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股價漲跌幅

	2022	2021	2020
茂訊	-20.0%	22.0%	12.0%
0050	-15.98%	3.82%	50.48%

營業毛利率,營業利益率,稅前淨利率,股東權益報酬率-近10年

	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
營業毛利率	21.93	22.89	22.67	20.37	25.38	25.40	24.76	24.36	22.69	20.85
營業利益率	11.56	12.47	11.39	7.79	13.97	13.39	12.28	12.18	10.31	8.97
折舊負擔比率	1.71	1.58	1.67	0.66	0.51	0.60	0.68	0.61	0.87	0.80
稅前淨利率	28.82	14.17	12.58	9.01	15.77	14.69	13.76	13.27	12.32	10.46
股東權益報酬率	34.25	21.04	19.08	12.40	23.50	19.78	18.44	18.82	16.98	13.88
資產報酬率	24.51	14.56	13.46	9.11	17.27	14.99	14.30	14.20	12.96	10.76
本業收入比	40.17	87.91	90.42	86.70	88.56	91.14	89.12	91.90	83.75	85.71
業外獲益比	59.95	12.09	9.58	13.30	11.44	8.86	10.53	8.10	16.25	14.29
無形資產佔淨值比	0.27	0.17	0.22	0.16	0.00	0.00	0.00	0.00	0.00	0.00

營業毛利率,營業利益率,稅前淨利率,股東權益報酬率-近20季

	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1
營業毛利率	20.01	24.24	20.51	22.38	27.74	21.85	23.95	17.72	29.50	16.96	22.75	21.53	24.35	19.19	19.66	18.80
營業利益率	8.58	16.47	8.40	11.86	15.85	13.50	12.34	7.10	17.87	6.70	10.83	9.99	8.42	8.98	7.68	5.26
稅前淨利率	10.60	16.89	65.50	8.69	24.70	13.46	12.19	4.85	20.30	7.56	13.05	9.09	9.63	10.18	10.09	5.14
本業收入比	79.63	97.12	12.79	137.04	63.78	100.00	100.00	145.16	87.90	88.52	83.54	110.53	86.54	88.10	76.79	104.00
業外獲益比	18.52	2.16	87.21	-37.04	35.68	-0.00	-1.28	-45.16	12.10	11.48	17.72	-10.53	13.46	11.90	23.21	-4.00

現金流量-近10年 (1.避開自由現金流量近3年都小於0的公司 2.營運現金流量要大於稅後淨利，除非受到應收帳款和存貨影響 3.營運現金流量不應該都是流出)

	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
營運現金流量(百萬)	363	168	357	103	167	458	157	178	355	39
自由現金流量(百萬)	454	242	321	67	131	463	103	197	235	115
稅後淨利(百萬)	638	323	278	182	331	259	234	228	193	156

現金流量-近20季

	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1
營運現金流量(百萬)	28	-47	214	168	223	-85	-33	63	113	11	86	146	22	26	-1	56
自由現金流量(百萬)	22	137	278	17	181	180	-38	-81	85	105	89	40	-80	255	-45	-63
稅後淨利(百萬)	28	119	449	42	137	102	60	24	119	50	63	46	53	63	45	22

成長能力-近10年 (營業利益和稅後淨利成長率要大於營收成長率)

	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
營收(百萬)	2808	2976	2822	2420	2548	2153	2071	2142	1952	1875
營業利益(百萬)	325	371	321	189	356	288	254	261	201	168
稅後淨利(百萬)	638	323	278	182	331	259	234	228	193	156
EPS(完全稀釋)	10.72	5.40	4.67	3.06	5.56	4.34	3.91	3.82	3.23	0.00
營收成長率(%)	-5.65	5.46	16.61	-5.02	18.35	3.96	-3.31	9.73	4.11	N/A
營業利益成長率(%)	-12.40	15.58	69.84	-46.91	23.61	13.39	-2.68	29.85	19.64	N/A
稅後淨利成長率(%)	97.52	16.19	52.75	-45.02	27.80	10.68	2.63	18.13	23.72	N/A
EPS成長率(%)	98.52	15.63	52.61	-44.96	28.11	11.00	2.36	18.27	N/A	N/A

成長能力-近20季

	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1
營收(百萬)	506	823	859	620	747	958	636	635	774	811	609	628	539	826	560	496
營業利益(百萬)	43	135	72	74	118	129	78	45	138	54	66	63	45	74	43	26
稅後淨利(百萬)	28	119	449	42	137	102	60	24	119	50	63	46	53	63	45	22
EPS(完全稀釋)	0.48	2.02	7.65	0.72	2.34	1.73	1.02	0.42	2.03	0.85	1.07	0.79	0.90	1.07	0.76	0.37
去年同期營收成長率(%)	-32.26	-14.09	35.06	-2.36	-3.49	18.13	4.43	1.11	43.60	-1.82	8.75	26.61	0.00	0.00	0.00	0.00
去年同期營業利益成長率(%)	-63.56	4.65	-7.69	64.44	-14.49	138.89	18.18	-28.57	206.67	-27.03	53.49	142.31	0.00	0.00	0.00	0.00
去年同期稅後淨利成長率(%)	-79.56	16.67	648.33	75.00	15.13	104.00	-4.76	-47.83	124.53	-20.63	40.00	109.09	0.00	0.00	0.00	0.00
去年同期EPS成長率(%)	-79.49	16.76	650.00	71.43	15.27	103.53	-4.67	-46.84	125.56	-20.56	40.79	113.51	0.00	0.00	0.00	0.00
較上季營收成長率(%)	-38.52	-4.19	38.55	-17.00	-22.03	50.63	0.16	-17.96	-4.56	33.17	-3.03	16.51	-34.75	47.50	12.90	0.00
較上季營業利益成長率(%)	-68.15	87.50	-2.70	-37.29	-8.53	65.38	73.33	-67.39	155.56	-18.18	4.76	40.00	-39.19	72.09	65.38	0.00
較上季稅後淨利成長率(%)	-76.47	-73.50	969.05	-69.34	34.31	70.00	150.00	-79.83	138.00	-20.63	36.96	-13.21	-15.87	40.00	104.55	0.00
較上季EPS成長率(%)	-76.24	-73.59	962.50	-69.23	35.26	69.61	142.86	-79.31	138.82	-20.56	35.44	-12.22	-15.89	40.79	105.41	0.00

每月營收變化

年/月	月增率(%)	去年同期年增率(%)	累計營收年增率(%)	年/月	月增率(%)	去年同期年增率(%)	累計營收年增率(%)
2022/4	22.21	-8.27	-10.83	2019/12	-32.28	17.86	16.6
2022/3	1.22	-27.43	-11.86	2019/11	2.77	51.8	16.5
2022/1~2	5.25	-0.82	-0.82	2019/10	8.28	58.66	13.21
2021/12	-15.42	-34.6	-5.64	2019/9	-18.32	-4.21	8.88
2021/11	-14.95	-36.71	-3.37	2019/8	41.39	12.82	11.11
2021/10	-21.6	-26.08	0.15	2019/7	0.07	-15.0	10.75
2021/9	-6.13	-17.47	3.29	2019/6	11.75	4.33	17.27
2021/8	-12.04	-23.37	6.57	2019/5	13.67	11.82	20.63
2021/7	16.8	-0.03	13.2	2019/4	-26.22	11.56	23.08
2021/6	-25.56	20.26	16.37	2019/3	12.43	26.91	26.8
2021/5	40.54	65.38	15.58	2019/1~2	26.32	26.74	26.73
2021/4	-3.31	19.65	3.08	2018/12	-12.78	-26.54	-5.02
2021/3	38.62	-1.63	-2.33	2018/11	7.42	-21.66	-2.9
2021/1~2	4.81	-2.83	-2.83	2018/10	-34.63	-5.81	-0.68
2020/12	-18.15	9.46	5.44	2018/9	-3.8	-3.32	-0.16
2020/11	-0.66	-9.43	5.13	2018/8	6.52	7.35	0.39
2020/10	-12.47	-6.29	6.96	2018/7	22.84	20.08	-0.98
2020/9	-12.85	15.93	8.8	2018/6	19.77	7.58	-5.19
2020/8	14.74	8.64	7.75	2018/5	13.4	-0.61	-8.03
2020/7	40.52	33.87	7.56	2018/4	-16.07	-6.3	-9.9
2020/6	2.35	-4.65	2.72	2018/3	27.85	13.08	-11.0
2020/5	1.68	4.09	4.38	2018/1~2	-3.85	-21.49	-21.48
2020/4	-20.51	16.36	4.46	2017/12	-6.99	-7.24	18.38
2020/3	33.11	8.01	1.07	2017/11	29.16	48.25	21.69
2020/1~2	11.16	-3.27	-3.27	2017/10	-32.9	-11.28	19.16

稅前淨利較去年同期

2021Q4(百萬)	2020Q4(百萬)	YoY(%)
54.0	185.0	-70.81
2021Q3(百萬)	2020Q3(百萬)	YoY(%)
139.0	129.0	7.7519
2021Q2(百萬)	2020Q2(百萬)	YoY(%)
563.0	78.0	621.79

EPS較上季

2021Q4(元)	2021Q3(元)	比率
0.48	2.02	-0.762

應收帳周轉率和存貨周轉率-近10年

	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
應收帳款周轉率	21.75	18.33	27.01	20.73	23.04	27.80	27.31	48.48	44.06	26.61
存貨周轉率	2.49	2.78	2.89	2.95	3.45	2.95	2.70	2.80	2.54	2.51

應收帳周轉率和存貨周轉率-近20季

	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1
應收帳款周轉率	4.22	5.84	7.28	4.02	3.91	6.07	6.57	5.98	5.89	6.96	5.17	6.35	6.97	8.99	7.52	4.68
存貨周轉率	0.47	0.76	0.79	0.54	0.59	0.82	0.57	0.65	0.70	0.90	0.68	0.71	0.60	1.04	0.71	0.66

償債能力-近10年

	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
負債比	0.28	0.30	0.32	0.27	0.27	0.26	0.22	0.23	0.26	0.21
金融負債(百萬)	2	4	8	15	10	0	0	0	0	0
營收淨額(百萬)	2808	2976	2822	2420	2548	2153	2071	2142	1952	1875
利息保障倍數	1676.31	594.19	330.99	497.60	2466.19	0.00	0.00	0.00	0.00	0.00
長期銀行借款占稅後淨利比	0.00	0.01	0.01	0.01	0.02	0.00	0.00	0.00	0.00	0.00

成本指標-近10年

	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
營收淨額(百萬)	2808	2976	2822	2420	2548	2153	2071	2142	1952	1875
推銷費用(百萬)	183	191	185	189	182	156	156	143	132	127
管理費用(百萬)	47	49	45	35	39	34	33	34	32	30
研發費(百萬)	65	72	86	79	70	68	70	82	76	68
推銷費用率(%)	6.52	6.42	6.56	7.81	7.14	7.25	7.53	6.68	6.76	6.77
管理費用率(%)	1.67	1.65	1.59	1.45	1.53	1.58	1.59	1.59	1.64	1.60
研發費用率(%)	2.31	2.42	3.05	3.26	2.75	3.16	3.38	3.83	3.89	3.63

成本指標-近20季

	21Q4	21Q3	21Q2	21Q1	20Q4	20Q3	20Q2	20Q1	19Q4	19Q3	19Q2	19Q1	18Q4	18Q3	18Q2	18Q1
營收淨額(百萬)	506	823	859	620	747	958	636	635	774	811	609	628	539	826	560	496
推銷費用(百萬)	43	43	54	43	51	51	45	43	52	51	42	41	50	53	44	42
管理費用(百萬)	4	7	27	8	21	11	9	7	18	9	10	9	13	9	7	6
研發費(百萬)	11	13	28	14	18	17	21	17	20	23	22	21	23	22	16	18
推銷費用率(%)	8.50	5.22	6.29	6.94	6.83	5.32	7.08	6.77	6.72	6.29	6.90	6.53	9.28	6.42	7.86	8.47
管理費用率(%)	0.79	0.85	3.14	1.29	2.81	1.15	1.42	1.10	2.33	1.11	1.64	1.43	2.41	1.09	1.25	1.21
研發費用率(%)	2.17	1.58	3.26	2.26	2.41	1.77	3.30	2.68	2.58	2.84	3.61	3.34	4.27	2.66	2.86	3.63

財務健檢燈號

公司	上市滿三年	資本額10億以上	股本形成中現金增資比率低於50%	負債比率低於50%	董監持股設質低於10%	現金(含約當現金)占股本超過50%	過去4季累積正營運現金流量	過去4季ROE超過25%	過去6個月的營收維持正的年成長率	過去4季的EPS年增率是正數
3213-茂訊	O	X	O	O	O	O	O	X	X	X
	18年	5.87億	32.04%	27.65%	0.0%	85.18%	363百萬	5.32%

融資使用率

日期	股價	融資使用率
2022-05-16 -	48.85	1.16%
2022-05-13	50.1	1.15%
2022-05-12	50.0	1.18%
2022-05-11	50.1	1.20%
2022-05-10	50.6	1.21%
2022-05-09	50.5	1.25%
2022-05-06	51.2	1.25%
2022-05-05	51.2	1.26%
2022-05-04	50.5	1.26%
2022-05-03	50.4	1.25%
2022-04-29	50.7	1.25%
2022-04-28	50.3	1.26%
2022-04-27	51.0	1.25%
2022-04-26	51.8	1.30%
2022-04-25	51.8	1.30%
2022-04-22	52.6	1.32%
2022-04-21	53.0	1.32%
2022-04-20	53.0	1.32%
2022-04-19	52.7	1.29%
2022-04-18	52.3	1.29%
2022-04-15	52.7	1.32%
2022-04-14	53.4	1.25%
2022-04-13	53.2	1.27%
2022-04-12	52.6	1.25%
2022-04-11	53.5	1.25%
2022-04-08	55.0	1.27%
2022-04-07	55.8	1.33%
2022-04-06	56.4	1.38%
2022-04-01	56.3	1.43%
2022-03-31	56.4	1.46%
2022-03-30	56.7	1.47%
2022-03-29	56.9	1.64%
2022-03-28	56.6	1.42%
2022-03-25	56.9	1.51%
2022-03-24	57.1	1.47%
2022-03-23	56.4	1.50%
2022-03-22	56.3	1.98%
2022-03-21	56.7	2.12%
2022-03-18	57.4	1.82%
2022-03-17	62.0	2.92%
2022-03-16	61.0	2.64%
2022-03-15	61.4	2.65%
2022-03-14	62.2	2.81%
2022-03-11	62.1	2.73%
2022-03-10	62.3	2.63%
2022-03-09	62.8	2.69%
2022-03-08	60.0	2.26%
2022-03-07	61.0	2.27%
2022-03-04	62.3	2.34%
2022-03-03	62.3	2.41%
2022-03-02	61.6	1.69%
2022-03-01	61.2	1.58%
2022-02-25	60.8	1.46%
2022-02-24	60.1	1.40%
2022-02-23	61.0	1.37%
2022-02-22	61.0	1.38%
2022-02-21	61.6	1.38%
2022-02-18	61.1	1.38%
2022-02-17	61.4	1.38%
2022-02-16	61.8	1.45%
2022-02-15	61.7	1.45%
2022-02-14	62.0	1.47%
2022-02-11	61.5	1.33%
2022-02-10	60.8	1.22%
2022-02-09	60.9	1.29%
2022-02-08	60.5	1.22%
2022-02-07	60.3	1.23%
2022-01-26	59.7	1.23%
2022-01-25	59.7	1.19%
2022-01-24	59.8	1.23%
2022-01-21	59.3	1.26%
2022-01-20	60.0	1.39%
2022-01-19	60.0	1.40%
2022-01-18	59.9	1.37%
2022-01-17	59.9	1.37%
2022-01-14	59.8	1.36%
2022-01-13	60.1	1.38%
2022-01-12	60.0	1.38%
2022-01-11	60.2	1.48%
2022-01-10	60.2	1.44%
2022-01-07	59.8	1.38%
2022-01-06	60.3	1.38%
2022-01-05	60.5	1.36%
2022-01-04	60.8	1.35%
2022-01-03	60.8	1.36%
2021-12-30	60.9	1.43%
2021-12-29	60.8	1.42%
2021-12-28	60.7	1.40%
2021-12-27	60.4	1.43%
2021-12-24	60.5	1.45%
2021-12-23	60.3	1.38%
2021-12-22	60.4	1.38%
2021-12-21	60.4	1.33%
2021-12-20	60.4	1.33%
2021-12-17	60.8	1.36%
2021-12-16	60.6	1.39%
2021-12-15	60.5	1.34%
2021-12-14	60.5	1.36%
2021-12-13	60.8	1.36%
2021-12-10	60.4	1.40%
2021-12-09	60.7	1.40%
2021-12-08	60.8	1.38%
2021-12-07	60.6	1.39%
2021-12-06	60.5	1.40%
2021-12-03	60.4	1.38%
2021-12-02	61.2	1.35%
2021-12-01	61.4	1.34%
2021-11-30	61.2	1.35%
2021-11-29	60.4	1.36%
2021-11-26	60.6	1.32%
2021-11-25	61.4	1.31%
2021-11-24	61.3	1.29%
2021-11-23	61.4	1.29%
2021-11-22	61.5	1.27%
2021-11-19	61.2	1.34%
2021-11-18	61.7	1.34%
2021-11-17	61.3	1.36%
2021-11-16	61.3	1.35%
2021-11-15	61.3	1.45%
2021-11-12	60.7	1.47%
2021-11-11	60.6	1.47%
2021-11-10	60.6	1.51%
2021-11-09	60.8	1.49%
2021-11-08	60.1	1.42%
2021-11-05	59.5	1.42%
2021-11-04	59.3	1.49%
2021-11-03	58.8	1.37%
2021-11-02	58.8	1.36%
2021-11-01	58.9	1.35%
2021-10-29	58.9	1.33%
2021-10-28	59.3	1.33%
2021-10-27	58.5	1.32%
2021-10-26	58.3	1.31%
2021-10-25	58.3	1.30%
2021-10-22	58.2	1.32%
2021-10-21	58.4	1.27%
2021-10-20	58.3	1.23%
2021-10-19	58.4	1.23%
2021-10-18	58.5	1.21%
2021-10-15	58.5	1.21%
2021-10-14	58.3	1.23%
2021-10-13	58.3	1.21%
2021-10-12	58.5	1.21%
2021-10-08	59.4	1.23%
2021-10-07	58.9	1.23%
2021-10-06	58.5	1.21%
2021-10-05	58.5	1.23%
2021-10-04	57.7	1.25%
2021-10-01	58.7	1.35%
2021-09-30	59.1	1.40%
2021-09-29	58.9	1.51%
2021-09-28	59.1	1.66%
2021-09-27	59.2	1.65%
2021-09-24	59.1	1.64%
2021-09-23	59.3	1.64%
2021-09-22	59.0	1.65%
2021-09-17	59.7	1.67%
2021-09-16	59.3	1.67%
2021-09-15	59.7	1.68%
2021-09-14	60.4	1.71%
2021-09-13	60.4	1.69%
2021-09-10	60.5	1.70%
2021-09-09	59.9	1.59%
2021-09-08	59.8	1.60%
2021-09-07	60.3	1.82%
2021-09-06	59.9	1.83%
2021-09-03	62.7	2.10%
2021-09-02	62.6	2.17%
2021-09-01	62.8	2.24%
2021-08-31	61.9	1.94%
2021-08-30	61.5	2.07%
2021-08-27	61.2	2.13%
2021-08-26	60.8	2.21%
2021-08-25	61.0	2.33%
2021-08-24	60.5	2.33%
2021-08-23	60.9	2.48%
2021-08-20	59.4	2.67%
2021-08-19	59.5	2.73%
2021-08-18	61.3	2.94%
2021-08-17	59.6	2.75%
2021-08-16	59.5	2.82%
2021-08-13	59.1	2.57%
2021-08-12	59.8	2.57%
2021-08-11	59.3	2.60%
2021-08-10	60.2	2.96%
2021-08-09	60.7	2.97%
2021-08-06	61.8	3.43%
2021-08-05	62.2	4.27%
2021-08-04	59.0	3.74%
2021-08-03	57.4	3.42%
2021-08-02	57.1	3.51%
2021-07-30	62.8	3.71%
2021-07-29	64.1	4.38%
2021-07-28	62.7	3.97%
2021-07-27	60.7	2.56%
2021-07-26	60.6	2.55%
2021-07-23	60.9	2.75%
2021-07-22	61.4	2.96%
2021-07-21	60.3	1.82%
2021-07-20	60.3	1.81%
2021-07-19	60.8	1.81%
2021-07-16	60.9	2.11%
2021-07-15	60.8	2.13%
2021-07-14	60.1	2.10%
2021-07-13	60.0	2.24%
2021-07-12	60.7	2.26%
2021-07-09	60.9	2.30%
2021-07-08	61.0	2.35%
2021-07-07	60.6	2.41%
2021-07-06	60.9	2.49%
2021-07-05	61.5	2.55%
2021-07-02	60.8	2.49%
2021-07-01	61.0	2.46%
2021-06-30	61.4	2.47%
2021-06-29	61.6	2.56%
2021-06-28	61.5	2.69%
2021-06-25	60.8	2.54%
2021-06-24	60.3	2.58%
2021-06-23	60.5	2.52%
2021-06-22	60.1	2.44%
2021-06-21	60.3	2.51%
2021-06-18	60.2	2.42%
2021-06-17	60.5	3.05%
2021-06-16	60.2	3.18%
2021-06-15	61.0	3.86%
2021-06-11	60.5	4.29%
2021-06-10	60.1	4.31%
2021-06-09	60.4	4.83%
2021-06-08	61.5	7.34%
2021-06-07	61.1	7.87%
2021-06-04	61.5	8.75%
2021-06-03	63.2	9.90%
2021-06-02	60.6	4.90%
2021-06-01	60.0	3.49%
2021-05-31	58.4	2.11%
2021-05-28	57.1	0.76%
2021-05-27	57.1	0.86%
2021-05-26	56.9	0.89%
2021-05-25	56.7	0.89%
2021-05-24	56.6	0.92%